Deere & Company (NYSE:DE) Expected to Post Q3 2023 Earnings of $7.58 Per Share

Deere & Company (NYSE:DE – Get Rating) – Analysts at DA Davidson issued their Q3 2023 EPS estimates for shares of Deere & Company in a research report issued on Monday, May 22nd. DA Davidson analyst M. Shlisky forecasts that the industrial products company will earn $7.58 per share for the quarter. The consensus estimate for Deere & Company’s current full-year earnings is $30.72 per share. DA Davidson also issued estimates for Deere & Company’s FY2023 earnings at $31.55 EPS and FY2024 earnings at $34.46 EPS.

Other equities research analysts have also recently issued reports about the stock. Sanford C. Bernstein dropped their target price on shares of Deere & Company from $398.00 to $367.00 in a research report on Monday, May 15th. Robert W. Baird dropped their target price on shares of Deere & Company from $512.00 to $445.00 in a research report on Monday. Stifel Nicolaus dropped their target price on shares of Deere & Company from $500.00 to $493.00 in a research report on Monday. Oppenheimer dropped their target price on shares of Deere & Company from $492.00 to $436.00 in a research report on Monday. Finally, Citigroup dropped their target price on shares of Deere & Company from $505.00 to $460.00 in a research report on Tuesday. Seven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $443.86.

Deere & Company Trading Down 0.0 %

Shares of DE opened at $360.48 on Tuesday. The stock has a market capitalization of $106.82 billion, a P/E ratio of 12.10, a PEG ratio of 0.96 and a beta of 1.03. The company has a quick ratio of 1.70, a current ratio of 1.96 and a debt-to-equity ratio of 1.59. The firm has a fifty day simple moving average of $383.63 and a two-hundred day simple moving average of $409.43. Deere & Company has a twelve month low of $283.81 and a twelve month high of $448.40.

Deere & Company (NYSE:DE – Get Rating) last announced its quarterly earnings data on Friday, May 19th. The industrial products company reported $9.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.57 by $1.08. Deere & Company had a net margin of 15.00% and a return on equity of 43.11%. The company had revenue of $16.08 billion during the quarter, compared to analysts’ expectations of $14.87 billion. During the same quarter in the prior year, the company earned $6.81 EPS. The firm’s revenue was up 33.6% on a year-over-year basis.

Hedge Funds Weigh In On Deere & Company

Large investors have recently added to or reduced their stakes in the company. California Public Employees Retirement System raised its position in shares of Deere & Company by 17.5% during the third quarter. California Public Employees Retirement System now owns 633,261 shares of the industrial products company’s stock valued at $211,440,000 after buying an additional 94,311 shares during the last quarter. Sage Mountain Advisors LLC bought a new stake in Deere & Company in the fourth quarter worth $252,000. Mutual Advisors LLC increased its position in Deere & Company by 9.3% in the third quarter. Mutual Advisors LLC now owns 3,824 shares of the industrial products company’s stock worth $1,277,000 after purchasing an additional 324 shares during the last quarter. Engineers Gate Manager LP bought a new stake in Deere & Company in the third quarter worth $374,000. Finally, Fenimore Asset Management Inc. bought a new stake in Deere & Company in the fourth quarter worth $204,000. Hedge funds and other institutional investors own 75.72% of the company’s stock.

Deere & Company Company Profile

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Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.